News Update

Musk defers India’s trip citing heavy Tesla obligationsIndia needs to design legislative pills to euthanise tax-induced expatriation!I-T- Exercise of jurisdiction u/s 263 is invalid if AO has taken particular view, which though, may not be only view, but certainly can be possible view : ITATTorrential rains cause havoc in Pakistan; 87 killedI-T- Additions framed on account of unexplained money upheld as assessee was unable to prove source of cash deposited in assessee's bank account : ITATUS imposes sanctions on 3 Chinese firms and one from Belarus for transfering missile tech to PakistanCX - Appellant has regularly filed statutory returns on monthly basis and the fact of clearance of goods and availment of credit was duly reflected in returns but same has not been examined by authorities below, impugned order is not sustainable: CESTATDubai terribly water-logged as it has no storm drainsST - When services are received from separate source & accounted separately in separate ledgers, there cannot be any question of clubbing them under one category: CESTATEU online content rules tightened against adult content firmsCus - The continuous suspension of license of Customs Broker without either conducting an inquiry or issuing a notice for revocation of license or imposition of penalty is bad in law and needs to be set aside: CESTATEV market cools off in US; Ford, GM eyeing gas-powered trucksApple China tosses out WhatsApp & Threads from App store after being orderedChina announces launch of new military cyber corpsRailways operates record number of additional Trains in Summer Season 2024GST - Assessing officer took into account the evidence placed on record and drew conclusions - Bench is, therefore, of the view that petitioner should present a statutory appeal: HC1st phase polling - Close to 60% voter turnout recordedMinistry of Law to organise Conference on Criminal Justice System tomorrowGST - To effectively contest the demand and provide an opportunity to petitioner to place all relevant documents, matter remanded but by protecting revenue interest: HCGovt appoints New Directors for 6 IITsNexus between Election Manifesto and Budget 2024 in July!Israel launches missile attack on IranEC holds Video-Conference with over 250 Observers of Phase 2 polls
 
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Rome, March 16, 2014
FAO Study reveals rise in incidents of genetically modified crops in traded food
 
Geneva, March 15, 2014
WIPO received record 2 lakh applications last year; USA, China lead in intellectual property filings
 
Vienna, March 15, 2014
World Community needs to do more to tackle drug problem: UN Review
 
New Delhi, March 14, 2014
Service Tax - Construction of residential complex - No tax payable by builder prior to 1.7.2010 - Entitled for refund of Service Tax paid - Unjust enrichment not applicable: CESTAT
 
Mumbai, March 14, 2014
ST - Bus reservation charges is for conduct of tours and, therefore, it rightly forms part of tour operator services – demand upheld, however, penalty is not leviable: CESTAT
 
New Delhi, March 14, 2014
Income tax - Whether a co-developer of Special Economic Zone qualifies to be a developer for the purpose of claiming benefits u/s 115JB - YES: ITAT
 
Mumbai, March 14, 2014
CX - Mandatory penalty u/s 11AC is attracted only when allegations of fraud with intent to evade duty against respondent are invoked in SCN - understanding of AR is not correct - Revenue's appeal dismissed: CESTAT
 
Geneva, March 13, 2014
Agreement on Govt Procurement: Revised WTO pact to come into force on April 6
 
Hyderabad, March 13, 2014
Income tax - Whether, for purpose of depreciation, wind electric generators are to be treated at par with wind mill - NO: ITAT
 
New Delhi, March 13, 2014
ST - It would be absurd to allege that Govt body which is involved in welfare of poorer sections of society of having evaded tax by taking recourse to fraud - no penalty: CESTAT
 
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Shri N K Singh, recipient of TIOL FISCAL HERITAGE AWARD 2023, delivering his acceptance speech at Fiscal Awards event held on April 6, 2024 at Taj Mahal Hotel, New Delhi.




Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.